Retainage will be released 45 days after Final Acceptance, provided that the following has occurred:
- All liens placed against the project have been released. For projects over $35,000, releases from the Department of Labor and Industries, Department of Employment Security and the Department of Revenue will also be required. (click here for more information regarding State releases)
- Affidavits of Wages paid for the final correct contract amount are approved and on file for the Contractor and any subcontractors.
- Worker’s Compensation Premiums for the Contractor and any subcontractors are current.
Final Acceptance cannot be issued until all requirements of the contract have been met including, but not limited to:
Labor & Industries Intents & Affidavits
- Intents to Pay Prevailing Wages for the Contractor and any subcontractors have been approved by the Department of Labor and Industries
- Final invoice for the project received by the City
- The Project Manager has determined the Contractor has completed the required deliveries or performed the required services
- All as-builts have been received by the City